Kroger Says Will Work Cooperatively With The FTC On Second Request On Albertsons Merger
(RTTNews) - The Kroger Co. (KR) said on Tuesday it has received a request for additional information (second request) from the Federal Trade Commission or FTC as part of the regulatory review process for its merger with Albertsons Companies, Inc. (ACI).
Kroger said it will continue to work cooperatively with the FTC as it conducts its review of the merger, including developing a thoughtful divestiture plan. Kroger continues to expect to complete the merger in early 2024, subject to customary closing conditions.
The second request extends the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act until 30 days after Kroger and Albertsons Cos. have substantially complied with the requests or the waiting period is terminated sooner by the FTC.
read more
Kroger Backs FY24 Earnings View, Lifts Sales Forecast After Profit In Q2; Stock Up
Supermarket chain Kroger Co. on Thursday maintained its fiscal 2024 earnings view and raised the low end of its guidance for identical sales without fuel, after reporting a profit in its second quarter, compared to prior year's loss, amid nearly flat sales. Adjusted earnings also beat market estimates. On the New York Stock Exchange, Korger shares were gaining around 3.8 percent.
RTTNews
|
102 gün önce
Kroger Now Plans To Cut Grocery Prices By $1 Bln Upon Albertsons Merger
Supermarket chain Kroger Co., amid the ongoing regulatory hurdles in its proposed $25 billion merger with Albertsons Cos., now plans to cut grocery prices by $1 billion, upon the closure of the deal, Bloomberg reported. This is double the $500 million cut in prices the company announced, while the merger deal was revealed in 2022. The supermarkets also plan to spend $1 billion to increase...
RTTNews
|
129 gün önce
Kroger Backs FY24 Outlook As Q1 Adj. EPS Beat Estimates; Stock Up
Supermarket chain Kroger Co. on Thursday confirmed its fiscal 2024 adjusted earnings and identical sales outlook after the first-quarter adjusted earnings beat the Street estimates. Meanwhile, the company reported weak net profit and nearly flat revenues in its first quarter. In pre-market activity on the NYSE, Kroger shares were gaining around 3.9 percent.
RTTNews
|
186 gün önce
Kroger RTE Apple Walnut With Chicken Salad Bowl Recalled
Tracy, California-based Taylor Farms Pacific is recalling around 19,976 pounds of ready-to-eat or RTE apple walnut with chicken salad bowl products under Korger brand, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The agency cited misbranding and the possible presence of undeclared wheat, a known allergen, for the recall.
RTTNews
|
284 gün önce
Kroger Guides FY24 Adj. EPS In Line With Estimates - Update
While reporting financial results for the fourth quarter on Thursday, supermarket chain Kroger Co. (KR) initiated its adjusted earnings and identical sales outlook for the full-year 2024. Identical sales growth for the fourth quarter, without fuel, decreased 0.8 percent, with underlying growth of 0.1 percent.
RTTNews
|
291 gün önce
FTC, States Sue To Block Kroger's $24.6 Bln Albertsons Deal
The Federal Trade Commission or FTC along with a group of nine attorneys general have filed a lawsuit to block Kroger Co.'s proposed $24.6 billion acquisition of the Albertsons Companies, Inc., alleging that the deal is anticompetitive. In the move, FTC alleges that the planned merger, which would be the largest among supermarkets in U.S. history, will eliminate competition and raise grocery
RTTNews
|
300 gün önce
More Products With Cheese From Rizo Lopez Recalled Over Listeria Concern
Amid the ongoing Listeria monocytogenes outbreak, more and more products containing tainted cheese and other ingredients supplied by Rizo Lopez Foods Inc. are being recalled, according to the U.S. Food and Drug Administration. Fresh Creative Foods, a division of Reser's Fine Foods, Inc., has called back certain products, and Simply Fresh LLC. has recalled Rojo's Black Bean 6 Layer Dip.
RTTNews
|
319 gün önce
Kroger Boosts FY23 Adj. EPS Outlook - Update
While reporting financial results for the third quarter on Thursday, supermarket chain Kroger Co. (KR) raised its adjusted earnings guidance for the full-year 2023, while trimming total identical sales growth outlook.
RTTNews
|
389 gün önce
